Caleres, Inc. (NYSE:CAL) Plans $0.07 Quarterly Dividend

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Thursday, August 29th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.07 per share by the textile maker on Friday, September 27th. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, September 13th.

Caleres has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $4.96 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.6%.

Caleres Stock Down 1.4 %

Shares of NYSE CAL traded down $0.61 during midday trading on Friday, hitting $42.12. 435,695 shares of the company’s stock were exchanged, compared to its average volume of 478,381. Caleres has a 12 month low of $24.20 and a 12 month high of $44.51. The company’s 50 day moving average price is $36.45 and its 200 day moving average price is $36.80. The firm has a market capitalization of $1.48 billion, a PE ratio of 8.90 and a beta of 1.91.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, May 30th. The textile maker reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $659.20 million during the quarter, compared to analysts’ expectations of $664.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities research analysts anticipate that Caleres will post 4.4 EPS for the current year.

Insider Activity at Caleres

In other news, insider Diane M. Sullivan sold 19,764 shares of Caleres stock in a transaction on Monday, June 17th. The stock was sold at an average price of $33.66, for a total transaction of $665,256.24. Following the completion of the sale, the insider now owns 173,816 shares of the company’s stock, valued at $5,850,646.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Diane M. Sullivan sold 19,764 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $33.66, for a total transaction of $665,256.24. Following the transaction, the insider now directly owns 173,816 shares of the company’s stock, valued at $5,850,646.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The disclosure for this sale can be found here. Insiders sold 42,181 shares of company stock worth $1,447,208 in the last ninety days. 3.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Caleres from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.